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Opening a new studio in manchester

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DT01
DT01  569 forum posts
26 Jan 2012 - 6:59 PM


Quote: @DTO1 - sounds cool and very encouraging hope it keeps coming in. What do people get for 1000+?

100% personal service, as much time as necessary to shoot and make a final selection (so no 'one hour' time limits on sessions or viewing) Two 16 x 20 images in 20 x 24 premium frames (for example) and, depending on the scale of the order, plenty of added value.

To clarify that, everyone gets the same 'full on' effort/service/care, regardless of who they are. If a client then orders three 10 x 8's, that's all they will receive! (It hasn't happened yet, but if it did.....) However, if a client orders 5 framed images, (again for example) they will also get a coffee table book and a selection of digital files. Why give away digital files you may ask? If they've spent upwards of 1k, I appreciate that it's not a casual purchase for them and want them to feel that they've got exceptional value, and am not going to try to milk them for more money. This strategy is a direct response to the negative feedback that has been leveled at a certain big studio chain for it's 'hard sell' tactics. I know why they do it but I didn't want my clients to say 'lovely photos BUT....' I've found that people do appreciate it when they can see that you're making the effort to make the whole package special and are more than happy to promote you to others.

One other critical factor here is that I never offer digital files only and don't have that as an 'option'. That doesn't mean they aren't available as I've said above, however, if you offer digital images first it's highly improbable that you will make any other sale. The value of this is twofold: even if your CD offering was say, 600, you're still likely to miss out on bigger sales. Secondly, the value of delivering beautifully printed and framed images and seeing the client's reaction is priceless!

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26 Jan 2012 - 6:59 PM

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779HOB
779HOB  21018 forum posts United Kingdom
26 Jan 2012 - 7:23 PM

@DTO1 - I like the business model a lot and I agree about the giving away of the electronic files, not something I would normally do but I think in your case it makes good sense. I'm glad you mentioned how good it is to see the reaction of the customer too, I would also agree with that. Thanks for sharing.

DT01
DT01  569 forum posts
26 Jan 2012 - 8:59 PM


Quote: Thanks for sharing.

You're welcome!

BarrieNeilPhotography

Cloud cuckoo land. The income required to service that kind of outlay will be enormous (assuming you get planning permission for change of use - have you looked into that?)

Your Rent, business rates, service charge etc is going to commit you to an outlay of at least 40,000 per annum (and that's before you start adding all of your other business costs - advertising, promotion, heating (substantial), lighting, image production costs, liability and indemnity insurance etc etc etc.)

To service this kind of liability, your income will have to be such that you automatically forced into being VAT registered so this will make you even more expensive (have you considered that?).

Frankly (speaking as someone who has been in business a very long time and had 4 shops (florist run by my partner but the principal is the same)).. this is a recipe for financial disaster. Walk away

Last Modified By BarrieNeilPhotography at 27 Jan 2012 - 7:18 AM
lemmy
lemmy  71807 forum posts United Kingdom
16 Feb 2012 - 9:06 PM

I hope you don't think you are ging to use pictures of professional footballers without paying for the use of their image.

You will be shocked when you find out how much they can command for their esndorsement for a poster. And it's not only the player - the club will require hefty fees too.

Back in the 70s you could do that sort of thing but making money with commercial use of someone's image is nigh on impossible nowadays. The clubs are even trying to control editorial use, so far without great success.

Photo4x4
Photo4x4  10470 forum posts United Kingdom
17 Feb 2012 - 5:09 PM


Quote: Yes its sound mad opening a new studio at moment

There is a reason why it sounds mad. However it is YOUR money.

Keith Hart

scottishphototours

I agree with Barrie, this is a disaster in the making.

Our studio business is down 70% on last year and our overheads are still the same. Believe me when I say that the High Street is dead...it was mortally wounded in March last year and has never recovered.

Walk away. Now is not the right time.

Lucian
Lucian  4538 forum posts
18 Feb 2012 - 1:49 PM

There is a studio in my town that has been open for about 18 months and they dont do weddings so they must be making money. There is a studio in a town 15 miles from me who used to do weddings but only does portraits now. This suggests that certain studios are doing ok when they dont need to do weddings.

Lucian

Photo4x4
Photo4x4  10470 forum posts United Kingdom
19 Feb 2012 - 10:42 AM


Quote: There is a studio in my town that has been open for about 18 months and they dont do weddings so they must be making money

Why MUST they be making money? Just because they are trading doesn't mean that they are making money.

Keith Hart

Lucian
Lucian  4538 forum posts
19 Feb 2012 - 6:26 PM

If they are able to not do weddings they must be making enough of portraits. If they werent they would not be there.

User_Removed
19 Feb 2012 - 7:49 PM


Quote: There is a studio in my town that has been open for about 18 months and they dont do weddings so they must be making money. There is a studio in a town 15 miles from me who used to do weddings but only does portraits now. This suggests that certain studios are doing ok when they dont need to do weddings.

Lucian

I don't know if there is any correlation between studios, wedding, portraits and making money.

The two most successful professional photographers in my area (as far as I know) don't have studios and don't do weddings. They do a lot of industrial and commercial photography, a lot of school and event photography and a lot of photography for the local newspapers.

On the other hand, the professional photographer I hired a few years ago for my daughter's wedding does not, as far as I know, do anything except weddings. I don't know if he is making money but if he only did one wedding a week at the rate he charged me, he must be pretty well off.

.

Last Modified By User_Removed at 19 Feb 2012 - 7:51 PM
mikehit
mikehit  56289 forum posts United Kingdom9 Constructive Critique Points
19 Feb 2012 - 8:14 PM


Quote: If they are able to not do weddings they must be making enough of portraits. If they werent they would not be there.

18 months is not long in business start-up so for all you know he could be losing money - it all depends how much capital he has behind him.

A guy I know is very weatlhy and started a cafe in central london. He pumped quarter million of his own money into it and it took 5 years to make a decent profit - by your reckoning that period was very successful.

adrian_w
adrian_w e2 Member 73288 forum postsadrian_w vcard Scotland4 Constructive Critique Points
19 Feb 2012 - 9:22 PM


Quote: There is a studio in my town that has been open for about 18 months and they dont do weddings so they must be making money

Money laundering.
Common in Falkirk.

Lucian
Lucian  4538 forum posts
19 Feb 2012 - 9:24 PM


Quote: There is a studio in my town that has been open for about 18 months and they dont do weddings so they must be making money

Money laundering.
Common in Falkirk.

what do you mean?

User_Removed
19 Feb 2012 - 11:23 PM


Quote: There is a studio in my town that has been open for about 18 months and they dont do weddings so they must be making money

Money laundering.
Common in Falkirk.

Hell, Virtually every Take-Away and Convenience Store in Falkirk is a money laundering operation.

C'mon the Bairns!

Grin

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